MUSCAT: The Capital Market Authority (CMA) has issued a warning to Oman Fisheries after finding several violations that impacted the performance of the company.
In a statement issued, CMA gave 30-days to provide a plan on rectification the actions.
“The decision was issued after it was established the company‘s board of directors committed several violations that impacted the performance of the company in violation of articles 184, 202, 204, and 206 of the Commercial Companies Law,” the statement from CMA said.
“The directors or executive management shall not take advantage of the office for obtaining benefits for themselves or for any other person and the directors and related parties shall not have direct or indirect interest in the transactions or contracts entered into by the company or for the company’s benefit except the transactions and contracts concluded in accordance with the rules issued by the competent entities,” the statement said.
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“CMA emphasises that the companies listed on the MSX must comply with the laws and regulations of the capital market,” the statement added.
